Buyers flocked to a Hong Kong Island residential project located in a prime area in Wan Chai on Sunday, snapping up most of the units on offer, with mainland buyers accounting for half of the transactions, according to agents.
Twenty-one of the 30 units at the 33 Kennedy Road project were sold as of 3pm on Sunday.
The 71-unit completed project was jointly developed by The Development Studio, owned by ex-Swire Properties chairman Keith Kerr, and Fu Hop Investment. The developers priced the 30 units at an average price of HK$29,200 (US$3,719) per square foot.
The sales list comprised 10 one-bedroom units, 10 two-bedroom flats and 10 three-bedroom homes, with areas of 360 sq ft, 663 sq ft and 1,033 sq ft, respectively.
The cheapest flat was a 360 sq ft one-bedroom unit for HK$8.28 million, or HK$23,000 per square foot.
The project’s desirable location attracted investors, said Louis Chan Wing-kit, CEO of the residential division of Centaline Property. Investors, who accounted for most of the recent transactions in the luxury market, made up 60 per cent of the clients who attended the sale on Sunday.
One group of buyers spent more than HK$41 million to purchase a three-bedroom unit and a single-bedroom unit for long-term rental purposes.
